The total number of liquidations recorded for July 2010 decreased by 34.3 percent from 428 to 281 compared with July 2009, Statistics SA says.

The total number of liquidations recorded for the first seven months of 2010 decreased by 1.4 percent (from 2 379 to 2 346) compared with the first seven months of 2009.

The 1.4 percent decline was due to a drop of 35.0 percent in compulsory liquidations (from 214 to 139).

During this period close corporation liquidations decreased by 5.3 percent (from 1 279 to 1 211) while company liquidations increased by 3.2 percent (from 1 100 to 1 135).

Statistics SA said the highest numbers of liquidations during the first seven months of 2010 were related to businesses in the financing, insurance, real estate and business services industry (1 070 cases or 45.6 percent of liquidations) and the wholesale and retail trade, catering and accommodation industry (685 cases or 29.2 percent of liquidations).

The estimated number of insolvencies for June 2010 decreased by 37.1 percent (from 558 to 351) compared with June 2009, Statistics SA said.

The total number of insolvencies for the first six months of 2010 decreased by 27,8 percent (from 2 643 to 1 909) compared with the first six months of 2009.